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DLH Holdings Corp.

DLHC Clue Score39
United States Fiscal year ends September CIK 0000785557
$4.31 +1.41% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $4.31 −67.86% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue115.7Operating income6.6Net income3.3EPS, diluted0.27Fiscal year 2018Revenue133.2 +15.2%Operating income8.8Net income1.8 −44.2%EPS, diluted0.14 −48.1%Fiscal year 2019Revenue160.4 +20.4%Operating income10.0Net income5.3 +190.0%EPS, diluted0.41 +192.9%Fiscal year 2020Revenue209.2 +30.4%Operating income13.5Net income7.1 +33.6%EPS, diluted0.54 +31.7%Fiscal year 2021Revenue246.1 +17.6%Operating income17.2Net income10.1 +42.6%EPS, diluted0.75 +38.9%Fiscal year 2022Revenue395.2 +60.6%Operating income33.3Net income23.3 +129.6%EPS, diluted1.64 +118.7%Fiscal year 2023Revenue375.9 −4.9%Operating income17.1Net income1.5 −93.7%EPS, diluted0.10 −93.9%Fiscal year 2024Revenue395.9 +5.3%Operating income24.9Net income7.4 +406.3%EPS, diluted0.51 +410.0%Fiscal year 2025Revenue344.5 −13.0%Operating income16.8Net income1.4 −81.6%EPS, diluted0.09 −82.4%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 115.7 133.2 160.4 209.2 246.1 395.2 375.9 395.9 344.5
Growth +15.2% +20.4% +30.4% +17.6% +60.6% −4.9% +5.3% −13.0%
Operating income 6.6 8.8 10.0 13.5 17.2 33.3 17.1 24.9 16.8
Net income 3.3 1.8 5.3 7.1 10.1 23.3 1.5 7.4 1.4
Growth −44.2% +190.0% +33.6% +42.6% +129.6% −93.7% +406.3% −81.6%
EPS, diluted 0.27 0.14 0.41 0.54 0.75 1.64 0.10 0.51 0.09
Growth −48.1% +192.9% +31.7% +38.9% +118.7% −93.9% +410.0% −82.4%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin22.3%Operating margin5.7%Net margin2.8%Free cash flow margin4.7%Fiscal year 2018Gross margin22.7%Operating margin6.6%Net margin1.4%Free cash flow margin10.1%Fiscal year 2019Operating margin6.2%Net margin3.3%Free cash flow margin11.0%Fiscal year 2020Operating margin6.4%Net margin3.4%Free cash flow margin9.2%Fiscal year 2021Operating margin7.0%Net margin4.1%Free cash flow margin18.5%Fiscal year 2022Operating margin8.4%Net margin5.9%Free cash flow margin0.1%Fiscal year 2023Operating margin4.5%Net margin0.4%Free cash flow margin8.1%Fiscal year 2024Operating margin6.3%Net margin1.9%Free cash flow margin6.7%Fiscal year 2025Operating margin4.9%Net margin0.4%Free cash flow margin6.7%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 22.3% 22.7% n/a n/a n/a n/a n/a n/a n/a
Operating margin 5.7% 6.6% 6.2% 6.4% 7.0% 8.4% 4.5% 6.3% 4.9%
Net margin 2.8% 1.4% 3.3% 3.4% 4.1% 5.9% 0.4% 1.9% 0.4%
Free cash flow margin 4.7% 10.1% 11.0% 9.2% 18.5% 0.1% 8.1% 6.7% 6.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow6.5Capital expenditure−1.1Free cash flow5.5Fiscal year 2018Operating cash flow14.1Capital expenditure−0.7Free cash flow13.4 +145.8%Fiscal year 2019Operating cash flow18.0Capital expenditure−0.4Free cash flow17.6 +31.4%Buybacks0.0Fiscal year 2020Operating cash flow19.5Capital expenditure−0.2Free cash flow19.3 +9.4%Buybacks−0.2Fiscal year 2021Operating cash flow45.7Capital expenditure−0.1Free cash flow45.6 +136.1%Buybacks0.0Fiscal year 2022Operating cash flow1.2Capital expenditure−0.9Free cash flow0.4 −99.2%Fiscal year 2023Operating cash flow31.0Capital expenditure−0.6Free cash flow30.4 +8,096.2%Fiscal year 2024Operating cash flow27.4Capital expenditure−0.8Free cash flow26.5 −12.8%Fiscal year 2025Operating cash flow23.2Capital expenditure−0.2Free cash flow23.0 −13.4%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 6.5 14.1 18.0 19.5 45.7 1.2 31.0 27.4 23.2
Capital expenditure −1.1 −0.7 −0.4 −0.2 −0.1 −0.9 −0.6 −0.8 −0.2
Free cash flow 5.5 13.4 17.6 19.3 45.6 0.4 30.4 26.5 23.0
Growth +145.8% +31.4% +9.4% +136.1% −99.2% +8,096.2% −12.8% −13.4%
Buybacks n/a n/a 0.0 −0.2 0.0 n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash4.9Total debt19.7Net cash (debt)−14.8Shareholders’ equity35.9Debt to equity0.55Fiscal year 2018Cash6.4Total debt7.0Net cash (debt)−0.6Shareholders’ equity39.4Debt to equity0.18Fiscal year 2019Cash1.8Total debt53.6Net cash (debt)−51.8Shareholders’ equity45.6Debt to equity1.18Fiscal year 2020Cash1.4Total debt67.3Net cash (debt)−65.9Shareholders’ equity53.4Debt to equity1.26Fiscal year 2021Cash24.1Total debt44.6Net cash (debt)−20.6Shareholders’ equity65.6Debt to equity0.68Fiscal year 2022Cash0.2Total debt20.4Net cash (debt)−20.2Shareholders’ equity92.1Debt to equity0.22Fiscal year 2023Cash0.2Total debt172.3Net cash (debt)−172.1Shareholders’ equity102.4Debt to equity1.68Fiscal year 2024Cash0.3Total debt149.4Net cash (debt)−149.0Shareholders’ equity110.1Debt to equity1.36Fiscal year 2025Cash0.1Total debt128.0Net cash (debt)−127.9Shareholders’ equity113.0Debt to equity1.13
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 4.9 6.4 1.8 1.4 24.1 0.2 0.2 0.3 0.1
Total debt 19.7 7.0 53.6 67.3 44.6 20.4 172.3 149.4 128.0
Net cash (debt) −14.8 −0.6 −51.8 −65.9 −20.6 −20.2 −172.1 −149.0 −127.9
Shareholders’ equity 35.9 39.4 45.6 53.4 65.6 92.1 102.4 110.1 113.0
Debt to equity 0.55 0.18 1.18 1.26 0.68 0.22 1.68 1.36 1.13

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of USD, except per-share figures; shares in millions. Fiscal years ending September, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 30 Sep 2017 FY2018 30 Sep 2018 FY2019 30 Sep 2019 FY2020 30 Sep 2020 FY2021 30 Sep 2021 FY2022 30 Sep 2022 FY2023 30 Sep 2023 FY2024 30 Sep 2024 FY2025 30 Sep 2025
Operations
6.5 14.1 18.0 19.5 45.7 1.2 31.0 27.4 23.2
Growth +115.8% +28.1% +7.8% +134.8% −97.3% +2,396.6% −11.8% −15.2%
1.8 2.2 4.0 7.0 8.1 7.7 15.6 17.1 17.2
Investment
−1.1 −0.7 −0.4 −0.2 −0.1 −0.9 −0.6 −0.8 −0.2
calc 5.5 13.4 17.6 19.3 45.6 0.4 30.4 26.5 23.0
Growth +145.8% +31.4% +9.4% +136.1% −99.2% +8,096.2% −12.8% −13.4%
calc 0.44 1.04 1.35 1.47 3.35 0.03 2.11 1.84 1.59
−1.3 −0.7 −67.5 −32.8 −0.0 −0.9 −181.2 −0.8 −0.2
Financing
−3.7 −12.0 44.9 12.9 −22.9 −24.2 150.2 −26.4 −23.2
n/a n/a 0.0 −0.2 0.0 n/a n/a n/a n/a

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.